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Smart Ways Your Business Can Benefit From Online Auctions

Smart Ways Your Business Can Benefit From Online Auctions

It seems as if everyone is talking about online auctions. And why not. There are thousands of online auctions on the internet with more popping up everyday. People love them because they can usually find great bargains. Businesses are now also seeing the benefits of online auctions. Below are five ways your business can benefit from online auctions.

1. Get Rid Of Excess Inventory

You could sell your excess or discontinued products at an online auction. Your unsold inventory is doing you no good sitting around, collecting dust. It's an effective way to make extra income and it won't be a total loss for your business. You could even get lucky and make a profit depending on how much people will bid for your excess inventory.

2. Test Pricing For New Products

An easy way to test new product prices is to see what people will bid for them at an online auction. First, sell your product at three different online auctions. Next, calculate the average selling bid from all three auctions and that will be your selling price for your new product.

3. Sell Your Products

You can get your product in front of a large audience by selling it at an online auction. Some of the bigger auction sites draw over millions of hits a year. The key to being successful is to sell your product at multiple online auctions at the same time. Let's say you sold one product a day from just one auction site. If you sell your product at one hundred online auction sites that would be one hundred sales a day!

4. Start Your Own Online Auction

Drive traffic to your web site by starting your own online auction. People will visit your web site to find bargains and to sell their own products. You will get plenty of repeat visitors from people rebidding on products and adding new products to sell. You could also charge other businesses to advertise on your web site.

5. Lower Your Business Costs

You can find lower prices on business supplies and equipment at online auctions. I'm not saying all the time, but before you go pay retail for a new printer try bidding on one first. A company may be selling them at a lower price at an online auction because they have excess inventory.

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Julia Tang publishes "Smart Online Business Tips", a fresh
and informative newsletter dedicated to supporting people
like you. To find out the best online business opportunities,
to discover hundreds more proven and practical internet
marketing secrets, plus FREE internet marketing products
worth over $200, visit: http://www.best-internet-businesses.com
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In The News:

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Aljazeera.com
Greeks continue protests against controversial property auctions ...
Aljazeera.com
Home auctions have been the source of anger and protest in Greece, where austerity continues to take its toll on many.

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Iraqi News
Central Bank of Iraq Auctions $171046500 on 24 April 2018
Iraqi News
Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 24 registered $171,046,500 in sales, a -9.73% volume decline from the US $189,478,345 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 23 ...

HYPEBEAST
Heritage Auctions' Latest Collectible Toys Auction is Bigger Than Ever
HYPEBEAST
With the success of Madchild's auction of personal items, Heritage Auctions is back with an even bigger auctions containing some of the rarest household names in collectible art/figurines. Titled the “Collectible Toys and Urban Art Fine Art” auction ...

ABC News
Michael Jackson's moonwalk shoes up for auction
ABC News
A piece of Michael Jackson's legacy is up for auction: the very shoes he wore the first time he moonwalked on stage. "The bidding is already well over $10,000," Brigitte Kruse, a curator with GWS Auctions, told ABC News in a statement. PHOTO: Michael ...
Michael Jackson's famous moonwalk shoes are going up for auctionCNN
Loafers Michael Jackson wore to do the moonwalk are up for auction, and have a Milwaukee connectionMilwaukee Journal Sentinel
Michael Jackson's famous moonwalk shoes going up for auctionPage Six
WTVD-TV -Complex -YouTube -connect.invaluab... - Invaluable
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UPDATE 1-Foreigners buy fewer US longer-dated Treasuries at auctions
Reuters
(Adds details, background) NEW YORK, April 23 (Reuters) - Foreign investors and central banks purchased fewer U.S. longer-dated Treasuries in early March, while they bought slightly more shorter-dated government debt, Treasury Department data released ...

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Auto Remarketing
Roundup: Auctions gain new consignors, make management changes
Auto Remarketing
CARY, N.C. -. BSC America's Bel Air Auto Auction announced the addition of three new consignors to the Thursday sale lineup at its new Belcamp, Md. facility. Credit Acceptance/VRS, BB&T/Regional Acceptance Corp. and Toyota Financial/Lexus Financial ...

New York Post
Mickey Mantle baseball card sells for $2.8 million at auction
New York Post
A mint-condition Mickey Mantle baseball card sold for $2.88 million — the heftiest price ever paid at auction for a post-World War II card and the second-most paid for any baseball card. The card was sold Thursday by former NFL offensive lineman Evan ...
1952 Topps Mickey Mantle baseball card fetches record $2.88 million at auctionWFTV Orlando
1952 Mickey Mantle card by Topps sells for near-record $2.88MESPN
Ex-NFL lineman Evan Mathis selling prized Mickey Mantle card - AP NewsAP News
ESPN.com -Heritage Auctions - Sports
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Kathimerini
State prepares for its first e-auctions, set for this Friday
Kathimerini
This Friday the E-Auction online platform for foreclosures will for the first time also open for the state, which will start using the tool to pressure major debtors to settle their arrears to the tax authorities. The first 15 properties, including ...

New Hampshire Business Review
Bill would ease NH auction laws for online sites
New Hampshire Business Review
Companies and individuals would be able to auction off other people's stuff on eBay, or any other platform, without getting a license if Gov. Chris Sununu signs Senate Bill 316 into law. Yes, New Hampshire law requires a license for things like online ...

New York Times
Auction Houses for Comics and Coins, Too
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The headlines in the auction world tend to involve Christie's, Sotheby's and Phillips, 18th-century businesses with English roots that routinely provide record prices, historic consignments and single-owner sales with famous names attached. But as ...

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